Irish Residential Properties REIT Plc is "extremely disappointed" with a local council's rejection of its 456-unit apartment development proposal.

The REIT's CEO, David Ehrlich, said in a statement that the company will appeal the decision of the Dun Laoghaire-Rathdown Council immediately. The executive noted that the company had already reduced the height and density of the project in anticipation of the ruling.

The company said it expects the appeal board to apply "a more pragmatic approach" on its proposed scheme, which it hopes to build on the Luas Line in the Irish capital's Sandyford suburb.

In September 2016, the REIT submitted its planning application for the Rockbrook development. Back then, it aimed to build 492 apartments across three blocks on a 2.8-acre site.